Sensex shows withdrawal symptoms, slides 122 points
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Caution took over investors as the market frittered away all the early gains as the benchmark Sensex started moving down, showing signs of heavy volatility.
Selling pressure distinctly came to the fore in telecom, auto, capital goods and technology sectors.
What contained the damage was indication that US economy is regaining momentum after upbeat retail sales data. But lingering worries about a US rate hike on horizon made investors skittish, which could affect liquidity flow for emerging markets.
The 30-share index resumed higher at 27,776.14 and hovered between 27,803.21 and 27,663.82 before quoting at 27,551.59 at 1206 hours, down 122.01 points, or 0.44 per cent, from its last close.
The NSE 50-share Nifty too was trading lower by 57.65 points, or 0.67 per cent, at 8,525.75.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 946.42 crore on yesterday, showed provisional data.
Notable losers were Bharti Airtel 2.08 per cent, M&M 1.49 per cent, Asian Paints 1.18 per cent, HDFC Bank 1.11 per cent and Bajaj Auto 0.80 per cent.
Overseas, Asian markets witnessed a mixed trend. US stocks registered small gains last Friday as investors digested the commentary from key Federal Reserve officials.
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Fintech firm BharatPe on Tuesday said it has elevated its interim CEO and chief financial officer Nalin Negi as full-time chief executive officer.
Negi was given charge of interim CEO in January 2023 after then CEO Suhail Sameer stepped down from the post.
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Two individuals have been arrested by the Mumbai Crime Branch late on Monday night for allegedly firing shots outside the residence of Bollywood actor Salman Khan in Bandra West on April 14, several media outlets reported.
"Both individuals, who fled Mumbai following the shooting, were apprehended in Bhuj, Gujarat," stated officials, as per news agency ANI. The Mumbai police confirmed that the detained individuals, identified as Vicky Gupta and Sagar Pal from Champaran, Bihar, will be transported to Mumbai for further interrogation.
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Tata Consultancy Services has topped the LinkedIn's latest list of top companies to work for in India, followed by Accenture and Cognizant in the second and third place respectively.
Professional networking platform LinkedIn on Tuesday released the 2024 Top Companies list for India wherein IT companies bagged the top three ranks, while financial services firms dominated the list with 9 out of 25 companies from this sector.
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Shares of Vodafone Idea dropped as much as 3.95 per cent to hit an intraday low of Rs 12.64 per share. The drop comes in reaction to the follow-on public offering (FPO) anchor book, which will open today.
Vodafone Idea shares have plunged 25.19 per cent year-to-date (YTD), but have surged 7 per cent in the past 6 months.
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Srinivas Pallia, who has been a part of Wipro for over three decades, divested all his shares valued at Rs 5 crore in the company approximately a month and a half prior to his appointment as the new chief executive, according to a report by The Economic Times (ET).
Pallia sold his 100,000 Wipro shares through a 'market sale' on February 14 this year, with the transaction being reported to the exchange on February 15. The total transaction amounted to Rs 5.05 crore, the report added. Following the transaction, Pallia's holdings of securities on the BSE were reduced to zero.
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